By Adedapo Adesanya
The performance of the unlisted securities market in Nigeria was bearish on Wednesday on November 27, 2019, halting the two-day gaining streaks recorded since the beginning of the week.
Business Post reports that at the close of transactions at the NASD Over-the-Counter Securities Exchange yesterday, the two major market barometers were down by 1.09 percent each.
The NASD Unlisted Security Index (NSI) depreciated by 1.09 percent or 7.77 points to close at 707.31 points from 715.08 points on Tuesday, while the market capitalisation reduced by 1.09 percent or N5.58 billion to settle at N508.16 billion compared with N513.74 billion it ended the previous day.
Despite the negative performance at the midweek session, the volume of transactions printed by the market increased 12.7 percent to 476,102 units from 422,567 units, while the value of trades marginally went up by 4.7 percent to N59.4 million from N56.7 million.
However, there was a drop in the total deals executed by traders at the market on Wednesday. A total of 13 deals were executed during the session in contrast to the 23 deals executed on Tuesday, indicating a decline by 10 deals or 43.48 percent.
At the close of business yesterday, the price movement chart, on the losers’ side, had a lone candidate, Friesland Campina Wamco Plc. The share price of the company went down by N5.72k or 4.65 percent to close at N123 per share from N128.72 per share.
During Wednesday’s trading day, the most traded stock by volume (year to date) was still held by Food Concept Plc with the sale of 1,158,828,284 units of its stocks valued at N844 billion. It was still followed by UBN Properties, which has traded a total of 921,841,397 units worth N1.24 billion.
On the other hand, Central Securities Clearing System (CSCS) Plc took the top spot in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted by investors, while UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.
Modupe Gbadeyanka